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SMMT

Summit Therapeutics

$1.88

(0.00%)

16:27
04/14/19
04/14
16:27
04/14/19
16:27

Summit Therapeutics presents in vivo PoC data for new mechanism antibiotics

Summit Therapeutics presented in vivo proof of concept data for the DDS-04 series of new mechanism antibiotics targeting Enterobacteriaceae in an oral session at the 29th European Congress of Clinical Microbiology & Infectious Diseases in Amsterdam. Enterobacteriaceae are a family of Gram-negative bacteria responsible for a large number of severe and often deadly infections. In the data presented, a DDS-04 series compound cured infection in a translationally-relevant animal model of urinary tract infection, one of the major sites for Enterobacteriaceae infection. Therapeutic concentrations of the DDS-04 compound were also observed in other major sites in the animal model where life-threatening Enterobacteriaceae infections occur, including the lungs and the bloodstream. With its new mechanism of action, the DDS-04 series was rapidly bactericidal and highly potent across globally diverse Enterobacteriaceae strains in research studies, which included multi-drug resistant isolates. Importantly, the DDS-04 series also showed low propensity for resistance development and did not show cross-resistance with existing classes of antibiotics, suggesting that DDS-04 compounds have the potential to overcome known resistance mechanisms. The company believes this profile makes the DDS-04 series "attractive" for further development for the treatment of Enterobacteriaceae infections.

SMMT Summit Therapeutics
$1.88

(0.00%)

06/28/18
JMPS
06/28/18
DOWNGRADE
JMPS
Market Perform
Summit Therapeutics downgraded to Market Perform at JMP Securities
06/28/18
JANY
06/28/18
DOWNGRADE
JANY
Neutral
Summit Therapeutics downgraded to Neutral from Buy at Janney Montgomery Scott
06/28/18
RHCO
06/28/18
DOWNGRADE
Target $4
RHCO
Hold
Summit Therapeutics downgraded to Hold at SunTrust on failed phase 2 DMD study
As reported earlier, SunTrust analyst Edward Nash downgraded Summit Therapeutics to Hold from Buy and lowered his price target to $4 from $22. The analyst cites the company's failed phase 2 study on Duchenne muscular dystrophy treatment as its stock price plunged nearly 80% intraday, adding that Summit will now discontinue ezutromid development and focus on the antibiotic program for C difficile infection. Nash further notes that the company's new lead product candidate, Ridinilazole, is now expected to enter phase 3 trials in Q1 of FY19.
06/29/18
HCWC
06/29/18
NO CHANGE
Target $3
HCWC
Buy
Summit Therapeutics price target lowered to $3 from $20 at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay lowered his price target for Summit Therapeutics to $3 after the company discontinued the development of ezutromid upon the full analysis of the 48-week data. Summit is now leveraged to its Phase 3 ready, differentiated, novel, gut flora sparing antibiotic for the treatment of Clostridium difficile, Chattopadhyay tells investors in a research note. Unfortunately, the Phase 3 program is not expected to commence until Q1 of 2019 and may not readout until 2021, the analyst adds. He believes, however, that the "damage to the stock is already done with the company trading at cash." Chattopadhyay sees "no value in moving to the sidelines" and keeps a Buy rating on Summit.

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